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The Strait of Hormuz Will Be Reopened, Trump Says Iran Peace Deal Is Near Completion

U.S. President Donald Trump stated that the peace agreement with Iran has been "largely negotiated" and an official announcement is expected soon. The statement has sparked new optimism amid geopolitical tensions that have shaken the global energy markets over the past few months.
Trump said that one of the main points of the agreement is the reopening of the Strait of Hormuz, a vital global energy distribution route that has been disrupted since the conflict erupted on February 28.
"Besides many other elements in this agreement, the Strait of Hormuz will be reopened," Trump wrote on his social media.
The Iranian government also confirmed that peace talks with the United States have made significant progress. Iran’s Foreign Ministry spokesperson, Esmail Baghaei, said the final draft of the agreement is now under review by both parties.
"In the past week, the negotiation process has moved toward convergence of views," Baghaei said on Iranian state television.
This agreement is driven by mediation from several Arab countries and Pakistan, which are trying to extend the fragile ceasefire that has lasted for the past six weeks.
However, several major issues remain unresolved. The United States continues to insist that Iran must not possess nuclear weapons and has demanded Tehran surrender uranium with a high enrichment level. Meanwhile, Iran refuses to halt its uranium enrichment program and is demanding relief from economic sanctions.
U.S. Secretary of State Marco Rubio said there has been "progress" in negotiations, and an official announcement could be made in the coming days.
"The president always prefers negotiated diplomatic solutions to resolve such issues," Rubio said.
In addition to the nuclear issue, both countries still need to agree on the management mechanism for the Strait of Hormuz, including Iran’s plan to impose fees on ships passing through the route.
This development has become a major focus of the global markets, considering the Strait of Hormuz is a key route for worldwide oil distribution. Reopening the strait could reduce energy supply tensions and provide positive sentiment for the global financial markets and risk assets, including cryptocurrencies.